What is the Need for International Marketing?

Need for International Marketing:

(1)  International interdependence of countries and growing world population: Self-sufficiency in all respects is not attained by any country in the world. Due to geographical and other factors, no country can produce all its requirements. There is international interdependence due to which every country has to import certain goods and export goods, in order to pay for imports. The awareness of mutual dependence favors the growth of international marketing.

(2)  No uniform geographic and climatic conditions: there is any uniformity of geographic and climatic conditions in all countries. A country does not have the capacity to produce all the goods required by it. Due to natural and other economic factors, a country can import the goods, which it is not in a position to produce.

(3)  No uniform production cost:International marketing is needed because the production cost in all countries is not the same. Every country can produce certain commodities with low production cost because of some favourable factors. Exchange of goods on the basis of comparative cost is beneficial to all countries.

(4)  Increasing needs and better standard of living:International marketing is needed to fulfill the increasing needs of consumers for production and improved products and for providing good standard of living to the people.

(5)  Need of developing closer economic and cultural cooperationInternational marketing is needed for developing closer economic and cultural co-operation between different countries. Thus, the global resources can be used fully at the global level. International marketing is required for economic integration among the countries of the world.

(6)  Problem of surplus production and scarce production in some countries:International marketing is needed because ofsurplus production in some countries and scarce production in some other countries. Some countries have huge unutilized production capacity. Some countries have no capacity to fulfill even their domestic requirements. This problem can be solved by international marketing which helps in exchange of goods according to the requirements of different countries.

(7)  Bridging gap between developed and developing nations:  International marketing is needed to bridge the gap between developed and developing nations. International marketing helps in exchange of goods and services and helps in transfer of technical know-how and skills, thereby accelerating the development of developing countries.

(8)  Economic growth of developing countries and peace in the world:International marketing is needed for quick economic growth of developed and developing countries. It helps in transfer of technology and quick industrial development in developing countries. The developed countries provide help to developing countries. International marketing develops co-operation among countries and thereby world peace and prosperity.